Moody's ups Icahn to stable

Moody's Investors Service said it revised the outlook for Icahn Enterprises LP's corporate family and senior debt ratings to stable from negative and affirmed the ratings at Ba3.

The outlook revision reflects the company's strong rebound in asset values, a more stable economic environment and merger and acquisition market, as well as the improved performance in Icahn's investment management and automotive segments, Moody's said.

Offsetting the improvements was the company's decision to return $1.8 billion of fee paying to outside investors, which removed a steady source of income, the agency said.

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